Legal
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Can I open an account for another person?
You can only open a brokerage account for yourself. Typically, you cannot trade securities for others without becoming licensed as an investment professional. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license. There are few exception... -
What if the account holder has died?
The first step is to probate the will of a deceased, assuming they have one. When a person dies without a surviving beneficiary named for an account, the assets go to that person’s estate. So, if a person left a will, the assets in the banking account would pass to the beneficiaries under that wi...